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901 King St, Alexandria, VA...

Windmill Hill Homes Acquires Mixed-use Property In Alexandria For $5M
SOLDMixed-use

Windmill Hill Homes Acquires Mixed-use Property In Alexandria For $5M

901 King St, Alexandria, VA, 22314

$5,000,000

Building Size

Asset Type

Mixed-use

Closing

Nov 22, 2023

AI

The property at 901-905 King Street is a four-level mixed-use building located in Alexandria’s Old Town district. The building, occupied by White House Black Market, was sold for $5 million. Windmill Hill Homes plans to convert the vacant office space into 14 residential units while retaining the retail space.

Summary of transaction details:

Tanner Scales, Josh Feldman, and Ian Ruel from Feldman Ruel represented the seller, A & H LLC, in the transaction of 901-905 King Street. Windmill Hill Homes, the buyer, will embark on converting the office space into residential units in the building, with the retail space set to remain unchanged.

Players

Tanner Scales

Feldman Ruel Urban Property Advisors

Broker

$5M

vol

1 deal

Broker
WH
Windmill Hill HomesBuyer

Alexandria Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93